Olstein Capital Management L.P. Decreases Stake in Wells Fargo & Company (NYSE:WFC)

Olstein Capital Management L.P. decreased its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 28.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 89,000 shares of the financial services provider's stock after selling 35,000 shares during the quarter. Olstein Capital Management L.P.'s holdings in Wells Fargo & Company were worth $6,251,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company in the 2nd quarter worth about $26,000. Truvestments Capital LLC purchased a new position in shares of Wells Fargo & Company during the third quarter worth approximately $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $32,000. Institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WFC shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $61.00 target price on shares of Wells Fargo & Company in a research report on Monday, October 14th. Phillip Securities raised shares of Wells Fargo & Company from a "neutral" rating to an "accumulate" rating and upped their price objective for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. The Goldman Sachs Group upped their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Finally, UBS Group lifted their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a report on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $73.39.

Wells Fargo & Company Price Performance

Shares of WFC stock traded down $0.20 during trading hours on Friday, reaching $77.23. The company had a trading volume of 10,392,498 shares, compared to its average volume of 12,467,391. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.30. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $257.13 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.17 and a beta of 1.18. The stock has a fifty day moving average of $73.19 and a 200-day moving average of $64.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company's revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. On average, equities analysts anticipate that Wells Fargo & Company will post 5.84 earnings per share for the current year.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.